Registered number
07665845
MORGAN CAPITAL PROJECTS LTD
Filleted Accounts
31 March 2023
MORGAN CAPITAL PROJECTS LTD Registered number: 07665845
BALANCE SHEET
AT 31 MARCH 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,971 18,063
Investments 4 181,818 250,000
193,789 268,063
Current assets
Debtors 5 445,949 288,873
Cash at bank and in hand 1,494,967 794,417
1,940,916 1,083,290
Creditors: amounts falling due within one year 6 (425,086) (241,112)
Net current assets 1,515,830 842,178
Net assets 1,709,619 1,110,241
Capital and reserves
Called up share capital 70 70
Capital redemption reserve 30 30
Profit and loss account 1,709,519 1,110,141
Shareholder's funds 1,709,619 1,110,241
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SJ Kendall
Director
Approved by the board on 20 March 2024
MORGAN CAPITAL PROJECTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Short leasehold property over the lease term
Fixtures, fittings and equipment over 4 years
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2022 44,260 43,979 88,239
Additions - 6,607 6,607
Disposals - (8,583) (8,583)
At 31 March 2023 44,260 42,003 86,263
Depreciation
At 1 April 2022 30,244 39,932 70,176
Charge for the year 8,852 3,847 12,699
On disposals - (8,583) (8,583)
At 31 March 2023 39,096 35,196 74,292
Net book value
At 31 March 2023 5,164 6,807 11,971
At 31 March 2022 14,016 4,047 18,063
4 Investments
Unlisted
investments
£
Cost or valuation
At 1 April 2022 250,000
Revaluation (68,182)
At 31 March 2023 181,818
5 Debtors 2023 2022
£ £
Trade debtors 355,447 245,951
Other debtors 47,600 2,354
Prepayments 42,902 40,568
445,949 288,873
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 65,191 49,899
Taxation and social security costs 284,618 60,315
Other creditors 1,618 22,908
Accruals and deferred income 73,659 107,990
425,086 241,112
7 Other information
MORGAN CAPITAL PROJECTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
25 Watling Street
London
EC4M 9BR
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